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The younger Tinseltown celebrated Teen Vogue’s Young Hollywood issue on the Paramount Studios lot Friday night, with Hailee Steinfeld, Shenae Grimes, Solange Knowles and Katherine Schwarzenegger among the partygoers who turned out to enjoy a fashion show and performance by Rye Rye.

Coach sponsored the annual party, which had a distinct “no grown-ups allowed” vibe, and where those revelers of age were easily identified by the large purple “21” stamps on their wrists.

This story first appeared in the September 28, 2011 issue of WWD. Subscribe Today.

“This is always such great fun, because it’s infused with such youthful energy and enthusiasm — though it can make you feel a bit on the aged side,” said Teen Vogue editor-in-chief Amy Astley.

Oscar nominee and “True Grit” standout Steinfeld looked more mature and refined than her 14 years in a black-and-white Versace dress with a yellow Jimmy Choo clutch and matching yellow shoes.

“I love the vintage look, Seventies and Eighties especially,” said Knowles, who DJ’ed the evening’s festivities looking fierce in Dolce & Gabbana. “Some of my fashion inspirations are Diana Ross, Bjork, and my mom.”

Rounding out this year’s batch of revelers were Francesca Eastwood, Bee Shaffer, Zelda Williams, Jessica Lowndes, “Twilight” actor Jackson Rathbone, Aimee Teegarden and “Modern Family” actress Sarah Hyland, who spent much of the evening engaged in public displays of affection with boyfriend Matt Prokop.

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